107-40 Queens Blvd Unit 7G · New York, NY 11375

$269,000

1 bd · 1.0 ba · 600 sqft · Condo · 488 Days on market

Built 1965

---

Why this score? — see what drove the F grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +7.5/15.0
• Schools +5.0/10.0
• 1% rule +4.8/10.0
• Cash flow +4.6/30.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to the Lane Towers! This Jr1/1 bedroom apartment features hardwood floor throughout and wide windows that provide ample natural light and great city views. The building has a laundry room located on every floor for your convenience. It also provides 24-hour doorman service for added security. You can enjoy stunning Forest Garden Hills and Manhattan skyline view from the terrace on the 18th floor, or relax indoors with central air conditioning and heat. Cats are allowed in the building, but dogs unfortunately are not. This apartment's location is ideal, with schools, bus routes, shops, express trains E, F, M, R Subway, and Long Island Rail Road plus the famous Austin Street shopping

Key facts

• Hardwood floor
• Laundry room
• Wide windows

Tags

• HARDWOOD FLOOR
• WIDE WINDOWS
• LAUNDRY ROOM
• 24 HOUR DOORMAN SERVICE
• FOREST GARDEN HILLS VIEW
• MANHATTAN SKYLINE VIEW

Property features AI

Finance

• HOA & community: Association: OneVesta; Building amenities include doorman, elevators, and a park; Association fee includes heat, sewer and water

Exterior

• Parking: Garage (waitlist); Parking fee required
• Security: Doorman
• Utilities: Public sewer; Electricity available; Natural gas available; Water available
• Home design: Stock cooperative; One level; Building has 19 total stories
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront; Near public transit; Near schools; Near shops

Interior

• Kitchen: Refrigerator
• Bedrooms: 4 total rooms (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Natural gas heating
• Interior features: Elevator; Entrance foyer; Common laundry area; Cats allowed
• Laundry & utility: Common area laundry; Gas water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $269k.

Deal economics

• At list price, monthly cash flow is $-687 ($-8k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $263k (2.1% below list).
• Recommended offer: $237k (12.0% below list) — sets the bar for market timing.
• Cap rate 3.2% vs local median 2.6% in New York — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 75/100 on livability (#268 in NY, #4,188 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A; Watch: crime F, cost of living F.
• Zoned schools: Ps 144 Col Jeromus Remsen (math 92% / reading 87%, grade A+, #45 of 2,108 statewide, top 3%, 830 students, 24% FRL); Is 227 Louis Armstrong (math 52% / reading 69%, grade B+, #153 of 729 statewide, top 21%, 1,528 students, 68% FRL); Midwood High School (math 94% / reading 96%, grade A+, #83 of 1,100 statewide, top 8%, 4,062 students, 73% FRL).
• Market conditions: Rents rising fast (+5.3%/yr); 620 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Queens County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 488 days — a 12% lower offer ($237k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 14y ago; this cycle's ask has dropped $40k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $195k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 35% of rent.
• Climate carrying-cost: major wind risk, 50% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $236,720 (12.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 488 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
9. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
10. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
11. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
12. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
13. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.98% ✗
• Cap rate: 3.23%
• Cash-on-cash: -10.94%
• DSCR: 0.51
• GRM: 8.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.3% rent growth · sell at horizon

5-year hold

• IRR: -31.6%
• Equity multiple: -0.07×
• Total profit: $-80,483
• Equity at exit: $40,109

10-year hold

• IRR: -21.5%
• Equity multiple: -0.29×
• Total profit: $-97,133
• Equity at exit: $23,258

Cash invested: $75,320 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 0 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City New York: 0 Strongly Tenant-Friendly · D+34

Rent Stabilization Code; HSTPA; 6+ months in housing court.

Methodology + full state rankings →

ZIP-level market 11375

• Rents YoY: 5.3%
• Active inventory: 620
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $2,635 high
• Mortgage (P&I): −$1,411
• Tax est. 1.5%: −$336 /mo · $4,035/yr
• Insurance: −$112
• HOA est. from 2 same-building comps: −$909
• Vacancy / Maint / Mgmt: −$553
• Net cashflow: $-687

Break-even live

Break-even rent $3,504

Max offer price $169,650

Occupancy floor —

Sensitivity live

Price	-10% $-501	-5% $-594	+0% $-687	+5% $-780	+10% $-872
Rent	-10% $-895	-5% $-791	+0% $-687	+5% $-583	+10% $-478
Rate	-1.0pp $-551	-0.5pp $-618	base $-687	+0.5pp $-756	+1.0pp $-827

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $67,250
• Closing costs: $8,070
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10740 70th Rd Unit 7F Forest Hills, NY	1.0	1.0	750	$2,650	$3.53	27d	1	0.05mi
10825 72nd Ave Forest Hills, NY	1.0–2.0	1.0	700	$3,500	$5.00	7d	2	0.15mi
10919 72nd Rd Unit 6F Forest Hills, NY	1.0	1.0	696	$3,485	$5.01	14d	1	0.21mi
11019 72nd Rd Unit 1B Forest Hills, NY	1.0	1.0	750	$3,200	$4.27	16d	1	0.26mi
110-19 72nd Rd Unit 1A Forest Hills, NY	—	1.0	500	$2,395	$4.79	27d	1	0.26mi
102-30 Queens Blvd Unit 1A Forest Hills, NY	—	1.0	350	$2,395	$6.84	27d	1	0.43mi
6771 Yellowstone Blvd Unit 2R Forest Hills, NY	1.0	1.0	700	$2,550	$3.64	27d	1	0.44mi
102-55 67th Rd Unit 2V Forest Hills, NY	1.0	1.0	633	$2,350	$3.71	22d	1	0.53mi
102-45 67th Rd Forest Hills, NY	1.0	1.0	700	$2,350	$3.36	21d	1	0.53mi
105-25 67th Rd Forest Hills, NY	1.0	1.0	750	$1,800	$2.40	21d	1	0.54mi
67-13 Austin St Unit 2A Flushing, NY	1.0	1.0	600	$2,595	$4.33	19d	1	0.57mi
66-55 Booth St Unit 6 Rego Park, NY	—	1.0	500	$2,295	$4.59	27d	1	0.62mi
6750 Thornton Pl Unit 2U Forest Hills, NY	—	1.0	550	$1,900	$3.45	0d	1	0.64mi
6620 Wetherole St Rego Park, NY	1.0–2.0	1.0–2.0	700	$2,400	$3.43	27d	2	0.68mi
6615 Thornton Pl Rego Park, NY	1.0	1.0	700	$2,672	$3.82	7d	3	0.68mi
9915 Ascan Ave Forest Hills, NY	2.0	1.0	600	$2,700	$4.50	27d	1	0.70mi
98-81 Queens Blvd Unit 15E Rego Park, NY	1.0	1.0	700	$3,335	$4.76	7d	1	0.72mi
11131 66th Ave Unit 3C Forest Hills, NY	1.0	1.0	600	$2,000	$3.33	7d	1	0.75mi
6435 Yellowstone Blvd Unit 6G Forest Hills, NY	—	1.0	575	$1,900	$3.30	21d	1	0.78mi
6820 Selfridge St Unit 3L Forest Hills, NY	—	1.0	500	$1,900	$3.80	27d	1	0.82mi
6405 Yellowstone Blvd Unit 403S Forest Hills, NY	1.0	1.0	720	$3,100	$4.31	27d	1	0.84mi
97-12 65th Rd Unit 4-C Rego Park, NY	1.0	1.0	650	$3,350	$5.15	7d	1	0.85mi
97-12 65th Rd Unit 18-E Rego Park, NY	1.0	1.0	600	$3,650	$6.08	2d	1	0.85mi
10849 63rd Ave Unit 2C Forest Hills, NY	—	1.0	600	$1,900	$3.17	27d	1	1.03mi
6259 108th St Unit 3S Forest Hills, NY	—	1.0	500	$1,900	$3.80	7d	1	1.04mi
9707 63rd Rd Unit 15B Rego Park, NY	1.0	1.0	700	$2,300	$3.29	0d	1	1.10mi
6347 Booth St Unit 3C Rego Park, NY	1.0	1.0	700	$3,400	$4.86	27d	1	1.13mi
6145 98th St Rego Park, NY	1.0–3.0	1.0	825	$2,350	$2.85	5d	3	1.14mi
6145 98th St Rego Park, NY	1.0–3.0	1.0	825	$2,500	$3.03	27d	3	1.14mi
9710 62nd Dr Unit 9F Rego Park, NY	1.0	1.0	750	$2,700	$3.60	6d	1	1.16mi
123-40 83rd Ave Unit 2107 Jamaica, NY	1.0	1.0	750	$2,573	$3.43	27d	1	1.17mi
8340 Austin St Unit 7N Kew Gardens, NY	—	1.0	550	$2,000	$3.64	27d	1	1.22mi
6155 98th St Unit 8B Rego Park, NY	1.0	1.0	700	$2,500	$3.57	7d	1	1.23mi
8380 118th St Unit 2P Kew Gardens, NY	—	1.0	550	$1,900	$3.45	16d	1	1.25mi
8375 117th St Richmond Hill, NY	1.0	1.0	650	$2,695	$4.15	27d	1	1.25mi
8375 117th St Unit 5E Richmond Hill, NY	1.0	1.0	650	$2,650	$4.08	14d	1	1.25mi
62-98 Saunders St Unit 4P Flushing, NY	1.0	1.0	700	$2,400	$3.43	0d	1	1.25mi
6125 97th St Unit 4D Rego Park, NY	—	1.0	650	$2,300	$3.54	7d	1	1.26mi
8371 116th St Jamaica, NY	1.0	1.0	688	$2,725	$3.96	7d	2	1.27mi
8321 Lefferts Blvd Kew Gardens, NY	—	1.0	550	$2,100	$3.82	27d	1	1.29mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: doormansecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-05-07
   status Pending
2. 2025-12-10
   price $269,000
3. 2025-10-17
   price $279,000
4. 2025-02-14
   price $299,000
5. 2025-01-04
   listed $309,000 Active
6. 2025-01-01
   historical
7. 2024-12-10
   listed $309,000 Active
8. 2014-06-09
   historical
9. 2013-08-18
   soldstatus $195,000
10. 2013-08-18
    soldstatus $195,000 Closed
11. 2013-05-13
    status Under Contract
12. 2013-01-23
    listed $199,000 New
13. 2013-01-23
    listed $199,000
14. 2012-12-05
    status Under Contract
15. 2012-08-30
    listed $199,000 New

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 50% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,616
• − Mortgage interest: −$15,068
• − Property taxes: −$4,035
• − Insurance: −$1,345
• − Repairs & maintenance: −$2,529
• − Management: −$2,529
• − HOA: −$10,908
• − Depreciation: −$7,825
• Taxable loss: −$12,624
• Est. tax savings @ 24.0%: +$3,030
• After-tax cash flow: $-5,209/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

No district data.

Livability — New York

• Score: 75/100
• State rank: #268
• US rank: #4188

Category grades

Amenities A+ Commute A+ Cost of living F Crime F Employment A- Housing C+ Health & safety A User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New York, NY
• County: Queens County · 1,914,869 people
• City population: 7,731,280
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 76,839
• Household income: $105,904
• Rent vs Own: 49.5% rent · 50.5% own
• Severe rent burden: 4101.0

Population outlook (Queens County) Hauer SSP2

• Today (2025): 2,546,320 people
• By 2030: 2,643,059 · +3.8%
• By 2040: 2,815,563 · +10.6%
• By 2050: 2,944,423 · +15.6%
• By 2075: 3,123,338 · +22.7%
• By 2100: 3,098,688 · +21.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: White 47% Asian 28% Hispanic / Latino 16% Two or more races 11% Black 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4% Dominican 1%
• Common ancestry: Scotch-Irish 8% Romanian 4% Italian 2%
• Foreign-born: 43% · China, Canada, Jamaica
• Languages at home: 46% English-only · Chinese 12% Spanish 12% Russian/Polish/Slavic 11%

Political lean MEDSL · Queens

• 2024 margin: Strong D (+24.6) · D 62.3% · R 37.7%
• 2008→2024 swing: -26.2pp toward R · 2008: 50.8pp · 2024: 24.6pp
• All cycles: 2024: D+24.6 2020: D+45.2 2016: D+53.4 2012: D+58.5 2008: D+50.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -155.54%
• Current HPI: 224.4903
• Rent YoY: ▲ 5.30%
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

Industry mix (Fortune 500 HQ in NY)

Industry	F500 HQs	Revenue
▸Financial Services	10	$950B
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

+35.2% since first listed

15 events — show timeline

• 2026-05-07 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-12-10 Price Changed $269,000 OneKey® MLS as Distributed by MLS Grid
• 2025-10-17 Price Changed $279,000 OneKey® MLS as Distributed by MLS Grid
• 2025-02-14 Price Changed $299,000 OneKey® MLS as Distributed by MLS Grid
• 2025-01-04 Listed $309,000 OneKey® MLS as Distributed by MLS Grid
• 2025-01-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-12-10 Listed $309,000 OneKey® MLS as Distributed by MLS Grid
• 2014-06-09 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2013-08-18 Sold (MLS) $195,000 MLSLI
• 2013-08-18 Sold (MLS) $195,000 OneKey® MLS as Distributed by MLS Grid
• 2013-05-13 Pending — MLSLI
• 2013-01-23 Listed $199,000 MLSLI
• 2013-01-23 Listed $199,000 OneKey® MLS as Distributed by MLS Grid
• 2012-12-05 Pending — OneKey® MLS as Distributed by MLS Grid
• 2012-08-30 Listed $199,000 OneKey® MLS as Distributed by MLS Grid